How Asset Management Software Can Save You A Headache

How Asset Management Software Can Save You A Headache

How Asset Management Software Can Save You A Headache

Feel weighed down by your never-ending to-do list? Well, with asset management software, taking care of your assets is one less thing to worry about.  A successful asset management solution can save you time, money, and lots of management headaches.

Asset Tracking Software: Best Use Cases


The Benefits of Asset Management Software

Asset management is a vital part of operations. Discover the benefits you and your team can enjoy with effective asset management software.


Manage Assets From Different Locations

Above all else asset management software enables teams to be better organised. Asset management software provides a single online dashboard to view and manage assets from anywhere. Plus, itemit’s mobile application means you can access your asset data on-the-go. With this capability organisations can unlock new levels of control and visibility for you and your team, allowing for better planning and scheduling.


Financial Clarity

Any business is focused on maintaining cost-effective operations and financial clarity. With asset management software, organisations can easily create customisable reports for insurers or lease financiers at the click of a button. Organisations can generate administrative reports and gain an overview of potential issues or asset utilisation via actionable analytics. The automation powers of asset management software means businesses can continuously keep their records up-to-date. The improved data accuracy gives you and your team the confidence you need in your reports and auditing, which can aid in identifying misuse of funds and improve their financial forecasting.


Improved Maintenance Schedules

Organisations can save money on maintenance with good asset management. During the operational phase of an asset’s life cycle, it is important for organisations to keep up-to-date on asset maintenance. However, often organisations can be reluctant to do so. Maintenance is a business expense that can cut into profits. Overdoing it can bring significant costs. On the other hand, under-maintenance can lead to reduced productivity. Maintaining up-to-date records of assets helps to prevent asset downtime, which ultimately increases productivity and keeps costs down. Plus, users can set up maintenance schedules in advance and be notified when routine repairs are due.


Increased Productivity

Asset management allows teams to better utilise their assets. Asset management software can provide teams with data on current usage, asset performance, and trends. Not only does asset management software let you see who has access to which equipment and when, but it can also allow users to reserve items for future use, and make orders. This ensures the right tools are in the hands of the right people at the right time. With asset management software organisations can gain greater understanding about asset behaviour, and what resources are needed where and when.


Remove Ghost Assets

Asset registers can often contain assets that have been lost, damaged, or stolen, these kind of assets are known as ghost assets. Asset registers are an important tool for representing a company’s investments. If an asset register is haunted by a number of ghost assets then this can have a significant effect on financial assessments. With strategic asset management, organisers will be aware of these ghost assets and can eliminate them in the books.


itemit’s Asset Management Software

itemit’s cloud-based and user-friendly asset management software is the tool you need to optimise your operations. An asset management system is essential for the success of any business.  Developing, operating, and maintaining  a varied inventory of assets is no mean feat but with asset management software you can do so in a cost-effective manner, ensure your business is functioning at its best, and save you and your team a headache.

If you would like to learn more about itemit’s asset management software, contact our friendly and helpful team today. You can reach them at team@itemit.com. Alternatively, you can sign up for our 14-day Free Trial to find out just how well itemit’s software can work for you.

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Top Tips for Asset Maintenance Management

Top Tips for Asset Maintenance Management

Top Tips for Asset Maintenance Management

Your assets are some of the most valuable parts of your business. They quite literally keep the lights on. Taking care of your assets means taking care of your business. That’s why it’s important to have a structured, effective asset maintenance management plan in place. Discover our top tips for great asset maintenance management. 

Implementing A Maintenance Strategy Routine, Reactive, And Pre-emptive


Why Is Asset Maintenance Important?

Effective asset maintenance prolongs the lifespan, enhances the performance and of your assets. For machinery, this means fewer breakdowns and less subsequent repairs. For an office space, this means a clean and comfortable workplace where your team can be their most productive. Performing asset maintenance means keeping your asset in great working condition and ensuring their repairs and replacements are up to date. Good asset maintenance management translates into a smooth-running and efficient workflow, ensuring your organisation is functioning at its best and most cost-effective!


5 Tips for Asset Maintenance Management


Create a Database

It’s essential to create a database or register of your assets so you can store all the necessary information associated with them in one centralised place. You can use the database to add relevant documentation such as user manuals and insert descriptions of your assets so your employees or clients can view associated data after each scan. Plus, with asset tracking software, every time you scan an asset its record of location will be automatically updated.


Collect Data

With asset tracking you can stay informed about asset behaviour and gain analytics throughout the lifecycle of your assets. Collecting data on your assets will enable you to make informed decisions that can lead to cost savings and improved performance with smarter maintenance schedules. 

Preventive maintenance is more effective than reactive maintenance. Understanding an asset’s lifestyle will enable a maintenance team to perform preventive maintenance at critical points in the cycle that can expand or enhance the asset’s useful life. Tracking the lifecycle will also help you plan and prepare for an asset’s eventual breakdown and the get funds together for its eventual replacement.


Set Up a Maintenance Schedule

During the operational phase of an asset’s life cycle, it is important for organisations to keep up-to-date on asset maintenance. However, often organisations can be reluctant to do so. Maintenance is a business expense that can cut into profits. Overdoing it can bring significant costs. On the other hand, under-maintenance can lead to reduced productivity. Maintaining up-to-date records of assets helps to prevent asset downtime, which ultimately increases productivity and keeps costs down. Plus, users can set up maintenance schedules in advance and be notified when routine repairs are due.


Equip Your Team With The Right Tech

In order to implement asset tracking and preventive maintenance schedules as strategies for successful asset maintenance, you need to invest in your team and the technology to support them.

Investing in your technicians will ensure the maintenance work is properly performed and recorded. Every facility leader can agree that great training leads to well-prepared staff, but training runs deeper than just knowing how to perform maintenance. For successful maintenance operations, proper training also means ensuring your team has (and understands how to use) the technology in place to best do their jobs.


Implement Inventory Tracking

Effective inventory  tracking underpins the success of any business. There is nothing more frustrating than starting a project just to realise you don’t have the necessary parts needed to complete the job. An effective inventory tracking system ensures you rarely face this type of setback when performing asset maintenance.

 Implementing inventory management software will ensure you’re able to effectively manage your assets. The software will automatically reduce inventory when maintenance projects occur that require certain parts and keep track of stock levels.


itemit’s Asset Maintenance Management

itemit’s cloud-based and user-friendly asset management software is the tool you need to optimise your operations. Good asset maintenance management will allow for better planning, more accurate forecasting, and protect your business from spiraling costs. Developing, operating, maintaining, and repairing assets in a cost-effective manner will ensure your business is functioning at its best. With up-to-date online profiles of your assets your business can drastically extend the lifespan of its assets and maximise the return on investment. 

If you would like to learn more about itemit’s asset management software, contact our friendly and helpful team today. You can reach them at team@itemit.com. You can also sign up for our 14-day Free Trial by filling in the form below.

Asset Maintenance Management

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How Asset Tracking Software Benefits Media Production Companies

How Asset Tracking Software Benefits Media Production Companies

How Asset Tracking Software Benefits Media Production Companies

Media production companies quite literally involve a lot of moving parts. Keeping track of all your production equipment across all your different sites and locations can be a logistical nightmare. With different team members checking equipment in and out there are a huge number of assets to manage at any one time. Relying on spreadsheets for inventory lists and asset management is a time-consuming process that is prone to human error. But, with asset tracking software this can all be automated, allowing you companies to streamline their operations resulting in more time and less costs. 


The Benefits of Asset Tracking Software for Media Production Companies

Featured - Asset Tracking Software


Streamlined Operations

A huge number of assets go into media production. From keeping track of all your lights, mics, booms, tripods, light reflectors and anything else you need. This amounts to a big investment and, like with any investment, you need to look after it. It can be easy to lose track of things as they move around sets and are taken off to various locations. This poses a challenge to ensuring the longevity of your equipment.

Using spreadsheets is usually the first go-to option for managing assets but this manual process can quickly become long and laborious. As your production grows, so do the number of assets, meaning more data and more moving parts to track and manage. Spreadsheets can become your system’s downfall since they are difficult to share with others, lack smart features, and are susceptible to errors. With itemit’s asset tracking software you can ensure your assets are where they need to be and with the right people, taking the headache out of asset tracking. When your team checks assets in and out the asset manager is automatically notified. Every time an asset is tracked, entered into the system, checked out, or repaired, data is collected.


Improved Inventory Management

Good inventory management is critical to the success of any operation and media productions are no different. Asset tracking software can improve your inventory management by informing you of what equipment you have, where it is, and who it has been assigned to. For example, if somebody requires multiple pieces of kit, you can bulk check them out with itemit’s equipment checkout system, then bulk move their locations to indicate that they’re with that company. Then, you’ll be able to run a report on the equipment that is on the move to the location and export it as a pdf, giving you a register of the equipment your client needs to sign for.

All of the data you collect will be pulled into a fixed asset register, providing you with an accurate and up-to-date record of your assets. This offers greater control and visibility of the financial data related to your assets. With itemit the process of creating fixed asset registers is simple. You can view, filter, manage, and export reports with ease, giving you a clear view on what you own and how the assets are behaving. A clean register will allow you to completely streamline your insurance and tax operations, allowing for clearer expense and more transparent insurance applications.


Reduced Costs

Limited budgets can restrict the ability to purchase additional assets, meaning you need to make the most of what you have. Cost management is vital on small and large scale productions alike, and with effective asset tracking software you can make sure you’re getting the best out of your equipment. Asset tracking increases the visibility of assets with real-time location and user data, helping to reduce loss and theft. 
Plus, asset tracking offers a smarter solution to maintenance. Good asset management extends the lifespan of assets by decreasing the need for maintenance and replacement. Asset tracking software allows you to take a more proactive approach to maintenance since it is much easier to maintain equipment if you know its history. With asset tracking software, you can set up automated reminders when it’s time to make routine repairs, resulting in fewer unexpected problems and the foresight to make them fit around your filming schedule.


More Secure Bookings and Rentals

Many productions, large and small, rely on rented equipment to make the next big picture. But with rented equipment you always run the risk of added costs in the event the asset is lost or broken. This can result in spiralling costs that can really put a dent in an already tight budget. Asset tracking software can offer you extra security and visibility around the movement and behaviour of assets.

Asset tracking software covers your back by ensuring you are compliant with your insurance. If you know where your assets are at all times then there is less associated risk, resulting in simpler invoicing and lower premiums for you. With itemit you can even set reminders for expired licences and insurance payments.


itemit’s Asset Tracking Software

Asset tracking software provides a digital, centralised system that allows your team to track important details about each asset in real time. With asset tracking software you can keep track of all your lights, mics, booms, tripods, light reflectors and anything else you need. All the necessary information for each piece of equipment, who it’s assigned to, what project it’s on, are safely stored in an asset register. Asset tracking software will save your production time and money so you have everything you need to create the next blockbuster. 

If you’d like to find out more information please contact the team at team@itemit.com or you can get started straight away and try the 14-day free trial by filling out the form below!

Asset Tracking Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

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How Can An Asset Register Be Useful For Your Business

How Can An Asset Register Be Useful For Your Business

How Can An Asset Register Be Useful For Your Business

Too many businesses are still relying on spreadsheets to count their assets or, even worse, don’t keep track of them at all. Assets are at the core of any business, they keep things moving and, often quite literally, keep the lights on. So it’s about time businesses started to track, monitor and appreciate the value that their assets bring. The answer to how to do this is simple: keep and maintain an asset register. Asset registers can make a big difference to how a business operates by streamlining their financial auditing, maintenance processes and ensuring a business knows what it truly owns.


What Is An Asset Register?

An asset register is simply a detailed list of assets that a business or organisation owns. It includes details on assets such as location, condition, and owner. Asset registers are an incredibly useful tool for representing a business’s investments and provide information on the most important features of your assets.  

Your asset register should contain specific asset data such as:

  • What is the asset
  • Asset status
  • The exact location of each asset
  • Procurement details including purchase date and price
  • Estimated life expectancy
  • Depreciation value
  • Insurance and compliance details
  • Maintenance history including repairs and downtime


The Benefits of an Asset Register

Asset registers lay the foundations for a smooth and robust business. Discover all the benefits an register could bring to your business:


Accurate Financial Reports

You can’t expect to produce accurate financial reports for your business without an up-to-date asset register. Maintaining an asset register means you can always follow a clear audit trail and obtain accurate financial reports. With online asset registers your business will be able to identify bottlenecks, make more informed decisions, improve delivery and generate reports at the click of a button. Updating your asset register is simple, you can easily log dates that assets have been purchased, inspected, and checked in or out by staff. 


With itemit you can view your entire asset register in one place and pull all the information together into customisable and exportable reports, helping you to pass those financial audits with flying colours.


Estimating Maintenance and Repair Costs

You can utilise an asset register to estimate maintenance and repair costs of your assets. During the operational phase of an asset’s life cycle, it is important to keep on top of asset maintenance. Asset registers can help to evaluate when and how much so you don’t risk overdoing, and increasing costs down-the line, or under-doing it resulting in reduced productivity. Maintaining up-to-date records of assets helps to prevent asset downtime and calculate depreciation, which ultimately increases productivity and keeps costs to a minimum.


Eliminate Ghost Assets

It’s important that a business knows what it actually owns. If an asset register is haunted by a number of ghost assets then this can have a significant effect on financial assessments. Ghost assets can mislead companies to either over or undervalue their set of assets. This can result in overpaying taxes, higher insurance premiums, inaccurate fixed asset reporting, and an inability to forecast accurately. All of this can affect regulatory compliance and place companies in a jeopardous position. 

 

Ghost assets also limit the productivity of a company. If your team believes an asset exists when it doesn’t then this can create operational bottlenecks. Alternatively, if an asset does exist but is out of action due disrepair then this can create delays and potentially increased expenses.

 


itemit’s Asset Register Solutions

itemit offers a simple solution to your asset tracking needs, with a fully-equipped suite of helpful features from a centralised dashboard to  check-in and check-out functionality, you can set up your own asset register in just a few clicks. An asset register provides your business with information it needs to ensure a healthy and productive operation. 

 

To find out more about itemit’s asset register solutions and how they can help you contact our team at team@itemit.com today. You can also fill in the form below to start your 14-day free trial.

Asset Tracking Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

You're in great company

or, download the itemit app to get started

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How QR Code Asset Management Will Transform Your Operations

How QR Code Asset Management Will Transform Your Operations

How QR Code Asset Management Will Transform Your Operations

QR codes may be small in size but they can be mighty in power. QR code stands for a ‘Quick Response Code’ and takes the form of a two-dimensional type of barcode that encodes alphanumeric information such as web page URLs, text, and contact information. Their simplicity and ease of use are making QR codes a popular choice for asset management. Plus, QR code tags are some of the most resistant asset tags on the market. Discover more about how QR code asset management could transform your operations.

QR


What is QR Code Asset Management?

QR code asset management is simply using QR codes to track your assets. By attaching QR codes to your physical assets and registering them in an online asset register you can view all the information associated with your assets from almost anywhere. This increases asset visibility and can help to prevent asset downtime.
Most software is web-based and is accompanied by a mobile application to make recording and tracking assets seamless. Although most smartphones can read QR codes these days, it’s not enough to just download a generic scanning application and expect it to work well for asset tracking. These codes are created using an online generator that produces a pattern of black white pixels, every module (black or white unit block) or a string of modules either represents data or a function. These patterns can be scanned using either a handheld scanner or even your smartphone. But, it’s important to note that it is far from ideal to generate QR codes from free sites if you want to use them for asset tracking. For an effective asset and inventory tracking system with QR codes, you need a quality software program and app to do the job.


The Benefits of QR Code Asset Management

QR code asset management can be transformative for your operations. Read on to discover how:


Quick and Easy Inventory Management

One of the great features of QR code is that these patterns can be scanned using either a handheld scanner or even your smartphone. Almost everyone has their own personal QR scanning device in their pocket. This makes using QR codes ideal for asset tracking and can simplify the entire process. With mobile inventory asset management your team can record and scan assets on the go. Any changes can be recorded as they happen simply by scanning a QR code with a smartphone or reader, reducing the risk of lost assets.


Cheap and Simple Production

Due to their simplicity, QR codes are cheap to produce and due to their 2D nature they can be printed on a range of materials. Compared to a barcode, a QR code can store more information in a smaller area of space. This provides a discrete but effective tracking solution that can be easily hidden out of sight on assets that have limited real-estate space.


Low Risk of Damage

Significant delays and inefficiencies happen when an asset tag is no longer scannable due to wear and tear. The great thing about QR tags is that this is rarely an issue. QR tags are a very resilient type of asset tag due to their in-built error correction so that even if they experience serious damage they’re still scannable

itemit offers both vinyl QR code stickers and anodised aluminium QR tags and come in various sizes, ranging from 15 to 23 millimetres. Our anodised aluminium tags have been developed to be exceptionally durable, so if your tagged assets are going to be subject to extreme or hazardous conditions then this type of QR tag might be the right one for you.


itemit’s QR Code Asset Management

Using QR codes for asset management can provide a real-time snapshot of where your assets are and how they are behaving. QR codes are one of the best ways to track assets in the field. They give staff a quick, convenient, and affordable way to monitor assets and inventory. All it takes is a mobile phone camera with very little set-up to accurately track assets.

To find out more about how itemit’s QR code asset management can help you track your assets, you can contact the team at team@itemit.com. You can also fill in the form below to start your own 14-day free trial.

 

Asset Management Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

You're in great company

or, download the itemit app to get started

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How To Eliminate Ghost Assets With An Asset Register

How To Eliminate Ghost Assets With An Asset Register

How To Eliminate Ghost Assets With An Asset Register

Are your assets ghosting you? Do you really know which of your assets are available and functioning? Incomplete and inaccurate records can make you a victim of ghost assets. Ghost assets are defined as any asset that is lost, stolen or unusable but is still shown as active on your fixed asset register. Ghost assets risk the integrity of your business and pose significant financial implications.

Why Are Ghost Assets a Problem?

Asset registers are an important tool for representing a company’s investments. If an asset register is haunted by a number of ghost assets then this can have a significant effect on financial assessments. Ghost assets can mislead companies to either over or undervalue their set of assets. This can result in overpaying taxes, higher insurance premiums, inaccurate fixed asset reporting, and an inability to forecast accurately. All of this can affect regulatory compliance and place companies in a jeopardous position. 

 

Ghost assets also limit the productivity of a company. If your team believes an asset exists when it doesn’t then this can create operational bottlenecks. Alternatively, if an asset does exist but is out of action due disrepair then this can create delays and potentially increased expenses.

How To Eliminate Ghost Assets

Incomplete and inaccurate fixed asset registers lead to ghost assets. To eliminate them it is essential that an asset register is maintained and updated. Of course, this is often easier said than done but asset tracking software can alleviate the burden of manually updating your asset register. Eliminating ghost assets in your organisation can be broken down into three simple steps: 

 

  1. Create an Online Asset Register
  2. Tag and Track Your Assets 
  3. Equip Your Team with the Right Tools and Processes

  1. Create an Online Asset Register

The first step you need to take is to create an online asset register. Asset registers are a complete record of all your assets contained within one centralised system. With asset tracking software, all the data associated with your individual assets is tracked and maintained online, allowing you to finally move away from tiresome spreadsheets.

 

An integrated asset management platform can help to prevent the disconnect between the various areas of a company. Establishing a centralised asset register that is accessible to all areas from a single dashboard creates a more cohesive workforce and that can collaborate with ease.

2. Tag and Track Your Assets

For an asset register to work effectively it requires up-to-date information on the status and location of the company’s assets. Tagging and tracking assets significantly improves the accuracy of an asset register. Each time an asset is scanned, its location is updated in the online register. Each asset is assigned a unique identifier that means you can track it throughout its entire lifecycle, from procurement to depreciation. Within an asset’s digital profile you can even set maintenance reminders that help to extend its lifespan. 

3. Equip Your Team with the Right Tools and Processes

Eliminating ghost assets ultimately rests with you and your team. Equip your team with the right tools and establish best practices. Putting portable tag scanners in the hands of the right people can greatly speed up the asset tracking process. Using itemit’s check-in and check-out functionality your team can create processes that ensure your assets are always accounted for. Taking regular audits and following regular maintenance schedules will also prevent the appearance of ghost assets.

itemit’s Asset Register Solutions

itemit offers a simple, cloud-based solution to all your asset tracking needs. With a fully-equipped suite of helpful features from a centralised dashboard to  check-in and check-out functionality, you can set up your own asset register in just a few clicks. An asset register provides your business with information it needs to eliminate ghost assets. Tracking and recording each change that occurs during an asset’s lifetime gives you the confidence and control you need to take your business to the next level. 

To find out more about itemit’s equipment loan software and how it will help you, you can contact our team at team@itemit.com that’s always happy to answer your queries. You can also fill in the form below to start your 14-day free trial.

Asset Register

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

You're in great company

or, download the itemit app to get started

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